<p>I know the loan limits are based on year in school (first year/2nd year). If a student starts their freshman year in the spring of a year how do the loan amounts work the subsequent year(s)? Would it be 1/2 the freshman amount the fall semester and half the sophomore amount the spring semester? Or would it just be treated as a 2nd year student and be the 2nd year amount for the whole year?</p>
<p>Designation as 1st year, 2nd year are determined by the number of credits earned. So, if a student starts Spring semester as a freshman, but earns sufficient credits to be classified as a sophomore for fall, then they would be awarded based on 2nd year Sophomore loan amounts. Schools can also assess grade level designations mid-year, such as if a student's credits take them from freshman in the fall to sophomore in the spring. My understanding is that this 2nd type of situation isn't required under DOE regulation but allowed, so it will vary by institution. There isn't any regulation that states a student must remain at one grade level designation for an entire school year (2 semesters) unless the school or program is classified as non-term.</p>